Xin Lang Cai Jing·2025-09-24 10:13Core Viewpoint - The company has demonstrated significant performance growth, attributed to various strategic initiatives and market adaptations, particularly in traditional and new energy sectors [3]. Performance Growth Analysis - The company reported its highest profit in nearly a decade for 2024, with strong performance continuing into the first half of 2025. This growth is driven by several factors: - Optimization of traditional business through precise oil procurement and improved market share in gasoline and diesel, with increases of 0.46 and 0.93 percentage points respectively in the first half of 2025 [3]. - Transition to new energy and digital upgrades, including the operation of two LNG refueling stations and advancements in smart microgrid technology [3]. - Risk management strategies that led to zero risk incidents in 2024 and continued strict controls in 2025 [3]. - Integration of customer resources and innovative business models, including the establishment of a strategic customer department and the "Taishan +" strategy [3]. - Reforms and incentive mechanisms focusing on performance and efficiency in the workforce [3]. Business Planning and Development Trends - The company is focusing on non-oil business development aligned with Sinopec's "Easy Joy" brand, enhancing service models and exploring new profit growth points in automotive services and cultural tourism [4]. - The impact of rising penetration of new energy vehicles on traditional business is acknowledged, with a strategic shift towards becoming a comprehensive energy service provider [4]. - The company is responding to supply-side contraction in the petrochemical industry by leveraging its supply chain and brand advantages to stabilize traditional business, which will support its transition to new energy and non-oil sectors [4]. - Plans for high-quality development include consolidating traditional operations while accelerating the expansion of LNG refueling networks and charging stations [4]. - The company is addressing market disruptions caused by low-priced non-compliant oil through enhanced service and product quality [4]. - The implementation of the "Regulations on the Management of Refined Oil Circulation" is expected to standardize market operations, aligning with the company's compliance goals [4]. - Progress in clean energy transition includes the establishment of integrated charging and photovoltaic service systems, with 423 charging guns operational as of June 30, 2025 [4]. Share Buyback Progress - As of August 31, 2025, the company has not yet implemented its share buyback plan, with updates disclosed on September 3, 2025 [5].